Greek 10-Year Bond Yields Hit Eleven-Year Low

Greek 10-year government bonds yields hit an 11-year low on Friday, as recent upbeat economic data and a deal struck with its lenders encouraged investors to snap up Greek debt.

Greece and its eurozone creditors reached a preliminary agreement earlier in December on reforms Athens needs to roll out under its bailout programme, a move that has boosted hopes for the country to leave the aid plan in August.

Greece‘s 10-year bond yield fell below 4% for the first time since 2006, down 21 basis points on the day. By late trading, Greek 10-year bond yields were at 3.95%.

Borrowing costs across the euro area fell 2-3 basis points a day after the European Central Bank stuck to its pledge to keep money pouring into the bloc’s economy for as long as needed.

Source: Reuters